Financial independence is a dream many people share, but not everyone knows how to achieve it. The journey toward financial freedom requires dedication, knowledge, and the right mindset. In this article, we will explore 11 essential steps to help you achieve financial independence and take control of your financial future. (more…)
By Molly Barnes, Digital Nomad Life
Road trips are a blast, but they can also be complicated, especially with kids in tow. Unless you’re flying by the seat of your pants (so to speak), you’ll have to set an itinerary, work out the details of how long it’ll take to get from one place to the next, and, of course, budget and save for the whole thing.
Budgeting can be the most difficult part of planning — a fact that became even more true in 2020, with fluctuating prices, limited options, and safety factors all put into play by the pandemic.
There’s a lot to juggle when you’re budgeting for a vacation, but it’s far from impossible, and you don’t need to let money concerns spoil your fun. When planning for your road trip, take the following steps to make sure it’s a success — and not a source of financial stress.
If you’ve got a tight household budget, you may not have much wiggle room — unless you’ve got a vacation savings plan built in. Which you should.
Set aside a little each month to save up for your road trip. It’s impossible to know exactly how much it’ll cost far in advance (especially with gas prices fluctuating and the cost of accommodations in flux). But you can map out a general budget, then set aside a little extra in case of emergencies.
When you leave will likely depend on how much you save, so if you’ve set a specific target date (or scheduled your vacation with the boss), you’ll have to be diligent about sticking to your pre-trip budget. Otherwise, you might have to shorten your trip, pick a different route, or, worse, wait ‘til next year.
How much you budget (and spend) will depend at least in part on where you plan to go. Road trips are great because they can cost less than buying an airline ticket, and you can see a lot of things you’d just be flying over otherwise.
Many of the most eye-catching and beautiful sights are visible from the side of the road, or with a short detour. There are many scenic highways from which to choose, all across the country, with plenty of opportunities for “oohs” and “ahs” and making photographic memories.
Take your camera (or camera phone) and be on the lookout for breathtaking overlooks from mountain roads, historic bridges with majestic arches — even in this U.S., some are nearly a century old — timeless forests, or gigantic rock formations.
The last thing you and your budget need on a road trip is to have your car break down, so make sure its service record is up to date before you go.
Check the tread on your tires (you can use a coin to see where you stand) and replace them if any are too bare. Also, get an oil change and/or a tuneup — even if you aren’t quite due yet. You don’t want to have the oil light go on halfway through an extended trip and make you interrupt your fun with a few hours at a service station.
Take along an automotive tool kit, just in case you run into trouble despite your preparations. While you’re at it, make sure your car insurance is up to date and covers everything you need it to cover. Also, having a roadside assistance plan isn’t a bad idea for long trips.
No matter how carefully you plan, something can always go wrong. Be prepared to roll with Murphy’s Law by making sure you’ve got enough credit to handle the unexpected. You may even have credit problems, but don’t let that stop you from taking your trip.
You can secure a fixed amount of credit on a card by depositing a few hundred dollars in an account to cover emergency expenses, if need be. With this kind of card, your deposit amount will be your credit limit, so you can’t go over. It’s another form of budgeting that helps you build your credit as you go.
Taking your own supplies on the road became a common practice during the pandemic. Disinfectant wipes, masks, and hand sanitizer became must-have supplies. It’s also become routine to stock up on food, water, and other essentials before departing — since the fewer stops you make, the less likely you are to come into contact with someone who has the virus.
Even as conditions improve and restrictions are lifting, these are good habits to maintain. Grabbing granola bars, water, soft drinks, snacks, and essential items before you leave will save you time and money: It’s a lot cheaper at your home grocery store than at a convenience store along the way.
Discounts are always worth pursuing, regardless of your budget. Why pay more than you have to? There are plenty of tools to help with that. Download an app to find the cheapest gas and qualify for deals, or grab a loyalty discount card from a chain you trust.
Hotels offer preferred-customer deals, too. Some travel apps give you a free night after you’ve reserved 10 nights through their service, and hotel chains offer similar deals for repeat customers.
Budgeting for a road trip doesn’t have to be a headache. Just the opposite: It can save you headaches down the road. If you know how to find deals, prevent trouble, and put yourself in good financial shape ahead of time, there’s no reason your road trip can’t be full of awesomeness.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
This post originally appeared in the The Financially Independent Millennial.
Are you looking for part-time weekend jobs in your area? Indeed, millions of Americans are looking to make a little extra money by working on the weekends. They might need to supplement their income, keep themselves busy on weekends, among other reasons. Or, perhaps it’s a student who needs to earn a little extra money to help pay student loans. Fortunately, whatever the reason, there are many jobs you can do during the weekend.
Weekend jobs are available for people that need to make a little part-time money on the side. Additionally, the rise of “work from home” options, remote work, and freelance gigs have created a broad range of opportunities for people who want to concentrate on their work during the weekend.
Nevertheless, these opportunities require a variety of education and skill levels. For example, many of these weekend jobs come with “no degree” requirements. And others require specific education. Regardless, if you’re looking for weekend job opportunities, there will undoubtedly be something for you on this list.
Let’s get started!
If you’re a freelance writer or editor, you can work part-time and make money. As a freelance writer, you can create content for websites, compose written material like business reports, direct marketing pieces, and featured articles.
A freelance editor also proofreads writing, corrects grammar, and modifies the copy, enhancing readability. The best thing about taking these jobs is that, in many instances, the work can get done during the weekends.
Freelance writers can earn upwards of $1 a word and more if they have specialized education (I.e., RN’s, MDs, Lawyers, etc.). Moreover, editors can earn upwards of $45/hr. However, one’s earning potential depends on the skills, deadline, and the type of work you do.
Related read: Side Hustles for College Students
Most businesses want to represent their products and services they offer to the public via the internet. Web designers create web pages by creating and publishing content. And, they incorporate video and graphics into websites.
Getting hired as a web designer requires a knowledge of web authoring tools, writing, and other technical skills. Some freelance designers will partner with graphic designers and writers to complete their projects.
As a part-time web designer, most of the jobs can get completed over the weekend. Lastly, web designers can regularly expect to make upwards of $35 per hour.
Related: Best Jobs For Millennials Without A Degree
Graphic designers play crucial roles in creating visual aspects of brochures, web pages, logos, advertisements, packaging, presentations, and reports. Also, Graphic designers translate client ideas into visual design. Designers need to possess aesthetic sensibility, creative abilities, and expertise to work with desktop design programs.
Graphic designers earn, on average, $29.55 per hour. However, rates will vary on factors such as the complexity of the job, and to a lesser degree, education. Regardless, working as a part-time freelance graphic designer on the weekend could be a huge opportunity to make money.
Many organizations will hire trained seasonal workers to help their clients in preparing tax returns. Often, the best time for customers who need tax assistance is on the weekend.
Folks looking to work as tax preparers, part-time and on the weekends, need only to get certified. And many online tax prep schools exist to fill the gap.
Tax preparers interview clients and obtain information about their income and expenses. And, for complex tax issues, you can always consult senior staff. If you work as a tax preparer on the weekend, you can earn an average hourly wage of $21 during the tax season.
Those who have a late model car and personality can drive for rideshare services such as Lyft and Uber. These services enable drivers to work as much or as little as they want, especially during the weekends.
An advantage of working on the weekends is that customers need rides following outings for entertainment, shopping, theatres, restaurants, and bars.
So, many drivers have taken this opportunity to work for multiple services, which has helped them expand their making money opportunities.
However, if you want to take this opportunity during the weekend, you must be an excellent driver. You may use your car, which should be in good working condition, or ask for your friends’ car. Rideshare drivers can make over $10 an hour, depending on the day.
Online e-commerce platforms have created opportunities for many people. Amazon and eBay offer a venue for sellers to promote their products. While products get sold 24×7 on these platforms, these part-time weekend jobs are an opportunity for sellers to conduct their business. However, e-commerce sellers should always be ready to reply to customers within 24 hours.
Additionally, packaging, uploading listings, and mailing orders can get done on the weekend. Amazon and eBay will keep 10% to 15% for the procedure from sales.
Amazon and eBay sellers can make thousands a year, while some even over ten million dollars in a year. However, as is the norm, the more you work, the more you make. And don’t forget there are season peaks for online sales that correspond to the holiday shopping season.
Those with good camera skills and a flair for editing photographs (and videos) have an excellent opportunity to expand their reach. As weddings tend to take place during the weekend, wedding photographers/videographers can work part-time, while honing their skills.
Wedding photographers also have the opportunity to earn big money on the weekends. For example, some charge $2,000+ depending on the client or wedding needs.
If photography isn’t for you, consider becoming a wedding musician or DJ. As most weddings (and other parties) get held on weekends, it offers those looking for a part-time job an opportunity to make some good money.
Those who have the skills to play the role of a DJ or a musician can undoubtedly take advantage of the opportunity. However, DJs’/musicians need to remember to play the music that will satisfy the guests–otherwise, they risk not getting referrals. A wedding DJ’s can expect to make upwards of $1,495 for playing music, not bad!
Related read: 28 Top Side Hustles – Make An Extra $1000 a Month in 2021
Golf courses tend to be busiest on weekends, and therein lies an opportunity for those looking for a part-time job as a golf caddy, especially during the summer season.
Before anyone can work as a golf caddy, they need to know the equipment and approach different holes. Also, physical stamina is required as caddies usually walk the courses with the golf clubs.
Golf caddies earn anywhere between $20 – $50/hr depending on the course level, golfer, and tips received.
Since the outbreak of COVID-19 coronavirus, health care workers are in big demand. For example, there is a tremendous demand for nurses, especially per diem nurses. These nurses are needed to work on the weekend to supplement regular staff.
Registered nurses follow treatment plans, treat wounds, administer medications and monitor patients’ health status.
Also, weekend nurses can earn upwards of $30/hr.
For the DIY crowd with ninja-like repair skills, handy people (man/woman) can earn some good money. Since many people lack time to learn simple repair skills, handy people can fill this need, part-time and on the weekends. A handy person might get tasked with installing a light fixture, minor carpentry, repairing drywall, light plumbing work, or painting.
The best handy people can charge upwards of $50/hr. However, they’d get best advised always to try and please the customer as best as possible. This way, they’ll stay busy with referrals.
Customer service representatives (CSRs) communicate with customers online or by phone to answer their questions and solve problems. CSRs also educate consumers regarding the effective use of their clients’ products or services. For instance, technical support workers solve software, computer, or hardware-related problems.
Before taking this weekend job, CSRs should be patient and possess strong listening abilities, problem-solving skills, and verbal communication.
Considering CSR’s can usually work from home, they can often perform these jobs on a part-time basis and on the weekends.
The weekend is the time that people shop when they are off work. As a result, stores in various sectors will hire part-time people, on the weekend. Retail sales reps require strong customer service skills, and attention to detail will go a long way.
Additionally, as more shoppers enter the store, the more the products get sold. As a result, there’s also a demand for people to restock the shelves.
Retail sales reps earn about $12+ an hour. Statistics also show that in a typical (non-pandemic) year, there are nearly 10 million retail jobs, which means it’s an excellent opportunity to earn an income.
Bars are often busiest on the weekends.
Weekend events such as weddings, birthday parties, etc., provide weekend based opportunities. In 2018, there were 644,000 bartender jobs in America. And once the pandemic is over, there’s no doubt the situation will improve.
Bartenders require the skills and knowledge to mix drinks while having good listening abilities, a lively personality, and quality customer service skills.
Bartenders also earn most of their income from tips. So, in terms of compensation, some can earn up to $500 a night.
As you have seen, these are among the best part-time weekend jobs you can start right away. If supplementing your weekly income is important, consider a position where you can use your skills and knowledge to make some extra money.
The post Part-Time Weekend Jobs–Top 14 To Consider in 2021 appeared first on Credit.com.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
A Global Pandemic is a Good Reminder
to Stress Test Your Finances on the Regular
By Kimberlee Davis Host & Founder of The Fiscal Feminist
Not to prematurely declare the current public health and economic emergencies over, because it’s not, but the reopening of some businesses this summer presents a good time for many of us to reflect on our finances. It’s a practice we self-reliant women should be doing all the time anyway, and now there is a unique opportunity to assess and learn. With four grueling months of health scares, social distancing and financial instability, let’s look at how we did.
Specifically, there are four key pieces of our fiscal puzzle that should be analyzed in a post-mortem evaluation: retirement, budget, investments, and career. Each plays a critical role in our overall strength and well-being, and each was stressed during the turmoil known as the first half of 2020. Without these four pillars of security, it is virtually impossible to provide for your family, secure peace of mind or simply enjoy your financial independence.
If it seems like we’re starting backwards by beginning with the funds that will be used last, that’s because reverse-engineering can be the simplest way to getting the answers you need. Your retirement savings, whether it’s an employer-sponsored 401(k), individual retirement account (IRA) or something else, should never be taken for granted due to its long timeline. In fact, it’s one of the best barometers we have for our own financial health.
Think of your retirement as the proverbial canary in the coalmine. If the nest egg cracks, it will likely impact everything else tenfold. Everyone’s risk tolerance varies, but a retirement portfolio should be set up to reduce risk and exposure in your investment strategy, the closer one gets to her retirement date.
A loss of retirement funds just before that critical milestone as a result of a pandemic or other economic calamity really can be the nightmare scenario for women of a certain age.
It’s also one of the more obvious wealth sources that can be tapped during an unforeseen emergency like COVID-19. Under the CARES Act, Americans can take a withdrawal of up to $100,000 from their 401k or IRA without the typical 10 percent early withdrawal penalty; however, the distribution will be taxed at ordinary income tax rates. The total amount of the distribution is treated as income and taxed accordingly. The CARES Act gives you three years to pay the taxes on the withdrawal (normally, it is a one-time lump sum tax payment) or you can repay back what you withdrew to your 401(k) or IRA and receive a tax refund.
Although the CARES Act enables us to take a withdrawal to help us during this unprecedented time, before you take the step of dipping into your retirement, it is better to explore all other alternatives first. The permanent loss of principal from withdrawing early and the long-term benefits of compound growth is extremely detrimental to your retirement outlook. The worst time to withdraw investment assets is in the middle of a downturn and extreme volatility; investments will be worth less and, hence, investors will have to withdraw a greater percentage of their account and will turn temporary paper losses into permanent realized losses.
Even if you try to replenish later, you will have lost all the compounding of growth from the withdrawn principal and the concern is that if you take advantage of the CARES Act provisions and withdraw, there is a good chance that you will not replenish the withdrawal which will be a permanent reduction.
We all think that retirement is somewhere out in the future, but it does ultimately arrive sooner than we think, and without retirement funding, retirement can look bleak. Women live longer than men and need to understand the longevity of their retirement funding.
The unexpected fall out from the pandemic involved many women losing their jobs. This is obviously very stressful, and although stimulus checks may have been forthcoming and unemployment compensation may be available, there could have been long delays in receiving these payments.
It is essential that every woman has a budget. Have an honest conversation with yourself about how you spend your money and track it! Even if you are the only one in your household, it is important to review your savings and fine tune your budget. Determine what is necessary and what expenses can be cut.
There are many free budgeting apps that can help you to create and monitor your budget and your savings. It’s best to track your finances in real time using a spreadsheet or tech-enabled tool such as Mint so you get the best read on where your money is going. Make sure to scrutinize your fixed costs such as rent, mortgage, utilities, cell phone, food and all insurances, including health insurance. List all credit card payments. Review all discretionary expenses and line item what you are spending that are non-essential. Eliminate or severely reduce online shopping, clothing and subscriptions. Re-evaluate your take-out food purchases. The more you understand, the easier it will be to find a way to save.
Every woman needs to prioritize having an emergency fund which equals three-six months of living expenses that can carry them through unforeseen circumstances such as job loss or illness. Regardless of your income, an emergency fund is essential! Women of all income levels need to have an emergency fund – it is the life raft when there is turmoil.
The sequence of solid budgeting is to track spending, pay down all credit card debt and establish an emergency fund. Once you do that, you can move on to investing.
This pillar has to do with the more active aspects of wealth creation. Stocks can be a sizeable part of an investment strategy, but diversification of asset classes – whether its mixing bonds, alternative investments (such as liquid hedge funds, hedge funds, private equity or REITs), real estate or art – is a key component of long-term financial independence. It aims to maximize returns by investing in different areas that would each react differently to the same event. If one portion of your portfolio is declining, it may ensure that other portions are not declining or not declining as much.
With that in mind, ask yourself, ‘how did my strategy fare since all hell broke loose in March?’ Did you have a diverse allocation, and did you make decisions during the volatility from fear or rationality?
A good stock selection strategy is to focus on the fundamentals of companies issuing the stocks. Remember that buying stocks is buying ownership in a company. Does the company have cash flow, too much debt, good management, and are they allocating funds for capital expenditures, shareholder return and dividends?
With the return to a lower interest rate environment, the dividend yield opportunities available within the equity market are at more compelling levels relative to fixed income securities than the historical norm. Investor income requirements will likely result in greater demand for dividend-paying stocks. More than half of the S&P 500 stocks yield greater than the 10-year Treasury yield, as of the end of last year. During such times, high dividend growers have outperformed high dividend yielders and the S&P 500. Dividend growth stock investing focuses on companies that pay dividends and grow dividends annually.
Regardless of price dips, dividends will be paid, and this especially helps investors who are living off their portfolios in retirement. Companies may change their dividend policies, so be mindful of that. Also, be mindful of over concentration in one stock – probably prudent not to have one stock make up more than 5% of your portfolio.
With respect to bond investments, consider varying elements such as maturities, credit qualities, and sensitivity to interest rate changes to diversify within that asset class.
Once you have your mix of stocks, bonds and alternatives, on a regular basis check the weightings of each allocation to make sure that they still make sense given current market conditions; from time to time you should rebalance your allocations.
Additionally, do not try to time the market or execute short-term trades as an investment strategy. Market timing can be very risky. If you have a long-term, diversified strategy, don’t let fear motivate you to cash out during dips in the market – that will result in permanent capital loss. If you stay the course over the long-term, you will benefit from the ultimate run-up and recovery.
It takes discipline and consistent investing to build wealth as well as patience and unemotional decision making. Make regular saving and investing a priority by setting up automated, regular deposits.
Reviewing your strategy shouldn’t be done only in times of crisis. It is helpful during bull markets and periods of personal and professional success as well. Keep in mind, though, that stress testing finances isn’t merely checking up on your investment accounts. Rather, it’s a holistic view of your entire financial picture.
The same look at how your money fared during the crisis should be applied to your job as well.
Were you able to keep your job during the quarantine? Were your salary and/or benefits cut? Is working from home something you’d like to continue?
Perhaps your career trajectory wasn’t as solid as you thought it was prior to the outbreak and some pivoting in the form of additional education and training or an entirely new professional endeavor are in order. Times of stress are not fun nor avoidable, but they can be a useful reflection tool. If it wasn’t for the disruption of the pandemic, it’s possible that you wouldn’t have found the flaws in your career – and then made the necessary self-improvements.
Unfortunately, more than 21 million Americans lost their jobs as of June, and reflection might not be a luxury all of us can afford at the moment. A crisis of that ilk requires character to persevere.
The good news is if you are smart with your finances, you have options. In addition to federal economic stimulus – and likely subsequent waves of stimuli – private companies have demonstrated leniency. From utilities and car payments to mortgage forbearance and credit card interest rates, there could be a deal to be struck somewhere. Additionally, there are always the 0-percent credit card options, either as a balance transfer or a place to temporarily park debt for free until your finances are right-sized.
Whatever it takes, you will do what you have to in order to feed those who depend on you and rise another day. With this unique opportunity for reflection – and the ongoing stress-testing of your finances every three to six months – we’ll all be stronger when we come out the other side.
Kimberlee Davis is your host of The Fiscal Feminist, a show about women and their relationship with money and finances. Her mission is to help all women of all ages and wealth levels –to embrace their responsibility to themselves to achieve solid financial footing in both calm and turbulent times. Kimberlee Davis has more than 25 years of finance, legal and corporate experience, her career has included being a corporate securities lawyer, investment banker, and Chief Financial Officer. Currently, she is Managing Director and Partner at The Bahnsen Group, a private wealth management firm. She specializes in personal wealth advising and oversees financial and retirement planning solutions.
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
“All the thoughts and dreams of people throughout history, and all you need’s this little card to borrow ’em for free!”
Other children of the ’90s might recognize this lyric from the classic tune “Library Card,” rapped by the cast of the cartoon show Arthur. It’s a silly song, but it’s a solid reminder that libraries can be amazing sources of entertainment and education. And unlike a credit or debit card, swiping a library card doesn’t cost a thing.
But exactly how much can you save by choosing your library card over a credit or debit card?
I recently overhauled my budget, and in the process, I decided to put my local library to the test. The exercise saved me nearly $700 per year in dodged subscription costs—money I now use to make $57 of extra student loan payments per month. Here’s how it worked.
Cutting Back on Entertainment Subscriptions
I’m decent at setting and following a budget. But there I was, facing another month where my family netted $0.
Specifically, I was bugged by how many frivolous entertainment subscriptions we had. I subscribed to a video streaming service here; my husband signed up for a premium account there. Although each account seemed affordable or even cheap, they added up.
Upon review, I realized that in the past year or two, we’ve paid for a number of entertainment subscriptions:
We’d mindlessly signed on for $57 per month in subscription fees that added up to $684 per year.
Don’t get me wrong, I think entertainment subscriptions can be a savings-savvy alternative to pricier options like paying for cable or seeing movies in theaters. The problem wasn’t the subscriptions themselves—it was the mindless spending they reflected.
Finding Free Entertainment at My Local Library
I thought I could find better uses for that cash if I canceled those services. But I didn’t love the idea of quitting cold turkey.
My Audible subscription caught my eye first. It cost me $15 per month. But I already used the OverDrive app, available through my local library, to request, check out, and listen to audiobooks for free. So I killed my Audible subscription and gained an extra $15 per month right there.
I wondered if I could replicate those results for other subscriptions. I dove into my library’s digital catalog and quickly found out.
Magazines
My library partners with RBdigital (formerly Zinio) to offer a range of digital magazines. I used the service to replace a subscription to ESPN The Magazine ($2.50 per month) and found lots of other reading material worth browsing.
Newspapers
The New York Times digital pass that’s part of my library membership grants me access to New York Times apps and unlimited articles at NYTimes.com. That meant I could cut $8 per month from my budget and still support an outlet I love.
PressReader is another decent replacement for subscriptions to periodicals, and I can access it for free through my library.
TV and movies
I took the plunge and ended up canceling my $9-per-month Netflix membership of more than eight years. Now, my family accesses documentaries and movies through Kanopy and OverDrive, thanks to our library accounts.
For my 4-year-old daughter, Nickelodeon shows on Hoopla are all the rage, so I was able to cancel my subscription for Hulu Plus and save $12 per month.
Music
My library card granted me access to music streaming and downloads through Hoopla and Freegal. Bye-bye, $8 Spotify Premium fee.
In all, I found $57 worth of monthly fees to cut from our budget. My family easily saves $684 per year while enjoying much of the same entertainment and content we’ve always loved.
5 Tips for Getting the Most Out of Your Library Card
Like most budgeting decisions, trading in your subscriptions doesn’t come without sacrifice. I’ve learned a few tricks along the way to make the most of my library card.
My main goal in cutting costs was replacing my entertainment subscriptions. However, I can’t always find a decent digital replacement. In many cases, I request a physical copy of the book, movie, TV show, or music album and pick it up during my next library visit.
A huge benefit of paid subscriptions is instant, convenient access to any content you want on a particular platform.
With library services, there might be a limit on how much content you can check out or access at a time. You might get put on a waiting list for a book or movie as well. It can be an annoying adjustment, but remember that you’re saving money.
Some library districts offer free tutoring services as well as resources to help students study for the SAT or graduate placement exams.
I also found out that my library card gives me access to Lynda.com’s online educational training. This allowed us to replace a $29-per-month membership my husband had been using to brush up on his web development skills and brought our annual savings up to $713.
Take a look at some of the streaming services available with your library card. You might have access to free workout videos, which could replace a gym membership.
Of course, it’s important to watch out for library card fees. One of the reasons I prefer digital library content is that it’s automatically returned when the time is up, so I never get a late fee.
But I’ve racked up some significant late fees and replacement fines for physical items I didn’t return to the library in a timely manner. If you’re not careful, your library fine could wind up in collections and damage your credit.
If you do check out physical copies, get in the habit of keeping track of them and making regular trips to return them on time.
Some library districts are well-funded and have great selections. Others, not so much. If your library’s pickings are slim, you might decide you’d rather keep your paid subscriptions. Even a big library district with awesome options won’t be able to offer you everything you could hope for.
Although my library offers a robust selection of services, I decided to keep a few subscriptions. My Amazon Prime membership offers tremendous value for its $99-per-year price, including access to free shipping and streaming services for music, movies, and TV shows. My husband loves podcasts and decided he wanted to keep his $5-per-month Stitcher subscription to support the platform.
Take the challenge to turn to your library card before your credit card, and you might be surprised by the savings. And remember: When you cut out monthly subscriptions, you’re saving money not just once, but also every month thereafter.
You can take your new cash flow even further by using it to pay down credit card debt—a smart option, considering the average credit cardholder owes over $4,000. Or you could look for other ways to build lasting wealth, such as saving for retirement or building a side hustle. Find more ideas on how to save money without depriving yourself at Credit.com.
The post How I Replaced $700 Worth of Monthly Subscriptions with My Library Card appeared first on Credit.com.
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Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
Can you believe it’s already back to school season? Once we pass Independence Day the back to school shopping advertisements begins. We get into back to school prep mode in anticipation of a new school year. Ironically, in this day and age of bullying, suicide, and random shooters in school hallways, there is much more to prepare your children for than just having the right clothes and supplies.
Since this is a personal finance blog I will share my back to school budget tips, but I also want to share my radical parenting tips for bullying prevention and bulletproofing your kids. Hopefully, this will prepare you and your child for a financially, emotionally, and physically safe, healthy and happy school year. Grab your coffee or tea (my favorite) and settle in for an eye-opening, yet empowering read.
According to the National Retail Foundation (NRF), “families with children in elementary school through high school plan to spend an average $696.70. That’s up from $684.79 last year.” That is a lot of money on a single income. Fortunately for you, I have seven things that you can do to budget-proof, save money, and cut your spending in half on back to school clothes and supplies.
Tip 1 – Create A Spending Plan or Budget
When you know what you want to spend for each child you have more control of your money and can make better buying decisions. If you have one child you will probably spend less but if you have more than one, then you definitely need to have a spending plan in place. This plan will hopefully include the clothes that they will be wearing, school supplies, lunches, and any activities they’ll be involved in.
Tip 2 – Buy in Bulk With Others
Buying in bulk with others will save money because you’re buying large quantities from a warehouse club at a lower price. You divide the order with everyone who contributed to the purchase. This is great for buying items that you probably never thought of purchasing, and also great for developing a cooperative relationship with other parents that can go on through the rest of the school year.
Tip 3 – Shop Top Sales
There are going to be plenty of sales but you want to be strategic about the sales you follow. Make sure that you’re only getting things that your child really needs for the school year. It’s easy to get sucked into buying unnecessary items on a whim because the price is just too good to pass up. Buy supplies for the entire school year on sale and use coupons for additional discounts.
Tip 4 – Create A Uniform or Capsule Wardrobe To Save Money
This might sound new and different but it can be a money and time saver, especially if your child is not going to a private school or school that requires uniforms. Clothing can be very expensive and even though our kids want to be the most fashionable and wear the latest styles, creating a uniform, or capsule wardrobe will definitely save you money. Create your own uniform with jeans or khaki pants and different color shirts for each day of the week. Use accessories for girls to mix things up or create a unique look.
Creating a capsule wardrobe or uniform that you can mix and match keeps you from spending crazy amounts of money on clothing for the school year. The added benefit is your kids, always know that they never have to wonder about what they will wear to school each day. It’s also important to know what your child wears daily should the unthinkable happen.
Tip 5 – Shop Consignment and Thrift Stores for Gently Used Designer Clothes
If your child wants and craves designer clothes because they are fashionistas, you’ll want to help them find quality clothes, without the sticker shock. Head to a consignment shop like Plato’s Closet and look for designer clothing in their size and fits their taste. You can also find gently used clothes at thrift stores. Often there are tags still on the clothes. If you go on specific days you might even get up to 75% off the already discounted price!
Tip 6 – Say No to Excessive Requests
Fundraisers – During the school year, especially the beginning of the school year, there are fundraisers for everything. The PTA is always putting on fundraisers, the school has their fundraisers, the band or sports clubs have fundraisers as well. Every time you look up someone is asking for more money. Decide at the beginning of the school year how much you plan to contribute to a fundraiser. Making this decision early will save your budget and sanity.
Teacher Requests – Another type of excessive requests are classroom supplies. Teachers, with the help of the school, should be providing the cleaning supplies, tissues, hand sanitizer, etc. for the classroom. But somehow the parents have been made responsible for buying these items for the entire class. If this request will bust your budget, you can say no and tell them that you are not willing or not able to provide extra supplies for the entire classroom. It is too much for you and your budget. It’s okay to say no.
Tip 7- Choose 1-2 Extra Curricular Activities For The Year
Your child does not have to be in every club or every activity that’s available during the school year. You can decide at the beginning of the school year that your child will only be involved in one or two activities. Setting limits will cut down on the amount of money you have to spend on uniforms, equipment, instruments, and supplies outside of what you already spend for the regular school year.
So there you have your back to school budget tips and tools to make sure you both have a financially safe, healthy and happy school year.
Now let’s move on to bully-proofing and prevention. Bullying is a very important topic that has been spotlighted in the media and for good reason. I’ve had to deal with bullying as a parent and when I was a child. I equipped my kids as best as I knew how to deal with bullies at school. Statistically, 49% of children in grades 4–12 reported being bullied by other students at school at least once during the past month, according to StopBullying.gov. As a parent, you want to prevent bullying as much as possible for you and your child to feel emotionally safe, healthy and happy school year.
Here’s how to create a bullying proofing or prevention plan.
Tip 1 – Set Expectations With The School And Your Child At The Beginning Of The Year
You want to let the staff and faculty know that if there are any incidences of bullying, you will report it to the police and that you expect there be full repercussions to anyone, teacher or child, who attempts to harm or bully your child. Set expectations ahead of time so that everyone knows, including teachers, faculty, as well as the principal and staff that your child will not be a bullying target. In PTA meetings, make a declarative statement to all parents present that bullying is not going to be tolerated. Let everyone know you have a contingency plan for it, and that you expect that everyone will be in cooperation and speaking with their children about bullying and preventing it.
Tip 2 – Teach Your Child Verbal Self Defense
Bullying activity usually starts with words. If you teach your child verbal self-defense, you can equip and empower them to diffuse difficult situations.
Verbal self-defense is using one’s words to prevent, de-escalate, or end an attempted assault. (Wikipedia). If they’re being bullied or a hateful person is spreading rumors/ lies or is verbally abusive, teach your child how to stand up to the perpetrator. Teach them how to look the bully in the eye and let them know that you will not be bullied or listen to the abuse, and walk away.
There are other things that you can teach them about verbal self-defense. Practice saying something like, “Oh that’s all you got?” or “Is that right? Let’s settle this right now!” Once you teach your child to confidently give a rebuttal, then you and they will feel more confident moving forward in the school year. There is no guarantee they won’t be bullied, but it will help them see that they have an option to respond in a way that’s empowering for them.
Tip 3 – Teach Physical Self Defense
If you’re able to put your child into a self-defense class, then do that, whether it’s karate Taekwondo or boxing. You want to give your child a sense of empowerment to defend themselves in case someone decides to physically hurt your child.
Tip 4 – Agree on Limited Social Media During the School Year
Limiting social media during the school year is a very important tactic because this is where a lot of bullying starts online which turns into cyber-bullying. You want your child to understand that social media will be limited or off limits during the school year because they need to focus on their schoolwork. Involvement with peers is important, but not to the point of it hindering their studies. It also sets a precedent for letting their friends know what’s more important. You are proving that knowledge is power.
Tip 5 – Create a No Social Media Policy
Implementing a no social media policy is a way to ensure good mental health and focus. Explain to your child that the academic plan you’ve created for the school year will go off the rails if social media is distracting them. It cannot help them advance in their goals or help them stay on course for their projects, their homework, their applications to different organizations and or colleges. Social media is not a priority. It has to go on the back burner until all academic goals are met. In essence, eliminating social media can eliminate opportunities for bullying.
Tip 6 – Create an Open Door Policy/No Judgment Zone to Discuss Peer Issues
An open-door policy is very important because you don’t want your child to hide the fact that they are dealing with harsh situations, whether it’s bullying or cyberbullying. You want them to be able to come to you so you know what’s happening and how to help them deal with it. They may not want you to get involved, but you can be a coach for them to help them deal with the situation.
Tip 7 – Build Their Sense of Value and Self Worth
Building their self-esteem and helping them understand their value will build their confidence. They’ll be able to let peer pressure and bullying, as long as it’s not physical, slide off their back and not be emotionally affected by it. Building up their self-esteem is crucial because with high self-esteem they know another person’s opinion has nothing to do with their success or failure. It is simply a character issue with the person who is being the bully.
Note: In order to build self-confidence in your child, you have to have self-confidence and have a sense of value for yourself. Parents who are confident usually raise confident children, so you must build up your own confidence. You have to deal with bullying issues you faced when you were in school and not live vicariously through your child. You don’t want your child to be defenseless or hopeless, because you felt defenseless and hopeless. You need to build up your own self-esteem, your sense of self-worth and cultivate that in your child.
Finally, let’s discuss bullet-proofing your child. We live in a society where, unfortunately, school shootings are regularly occurring. In 2018, there were 82 school shootings, the highest on record, according to the Center for Homeland Defense and Security (CHDS). These acts of local terrorism have become a part of our culture. Despite the fear and hopelessness around school shootings, It’s important to believe that you can bulletproof your child and to know that it doesn’t require you getting a gun. It also doesn’t require you to stand guard outside of the school every single day. Fortunately, there are things you can do that will keep your child safe and give you a sense of peace.
Tip 1 – Cultivate a Positive Mindset
Start with affirmations to cultivate a positive mindset. Why? Because your mindset and your attitude will determine how your child feels about going to school, and about how to deal with different incidences that happen at school. Having a positive mindset will set them up for a positive day, and positive life. Negative energy will draw more negative energy, which will keep your child in a state of fear. You don’t want them to be frightened of everything but want them to have a safe, healthy, happy existence at school. Cultivate a positive mental attitude.
Tip 2 – Pray for Your Child
Even though prayer has been taken out of school, there is nothing stopping you from praying for and with your child at home. You want to pray and bless your children before they leave, and when they return from school. We were created by the Creator, the source of all life, who is the ultimate protector. Give the Creator control and the opportunity to protect your child.
While you are praying for your child, pray for and bless the school and employees. Pray for the building and for everyone that comes in and out of the building. Pray for a wall of protection around the school, so that no perpetrators can enter the school with any ill intent. Your prayers have power. What is even more powerful is praying with other parents with children going to the same school. Your combined prayers are a powerful force against evil.
Tip 3 – Decide and Affirm That Your Child Has a Safe and Successful School Year
You can do this before school even starts. You can start saying this right now and begin making the affirmations over your child’s life, every single day. Do this in a thankful way, not in a begging way. There’s a difference. You are trusting that God, the universe, the Source of all life has your child’s best interest at heart and they have sent the angels of protection around them, to keep them safe. You have to pray this over your child because you are their parent and you are the one that has a vested interest in them living a safe, whole, successful life.
Tip 4 – Create an Emergency Plan
You are praying for and blessing your children, but we also want to take action and create an emergency plan. If anything does happen at the school, you’re able to contact your child, you’re able to contact the school, and you have a safe word or a safe place they will go. You also want to make sure that you are staying calm during any emergency situation so that you can make your child feel calm as well. Department of Homeland Security computer forensics expert, Kevin Tillman, suggests parental apps that monitor communications are a great tool to have in your arsenal. Some apps are free and others have a cost. He also says having parents on speed dial is critical.
Tip 5 – Teach Them to Pray For Themselves and Their Peers
School prayer has been banned but you can still teach your child to pray on their own in school. And it doesn’t have to be a group or school-mandated activity, but they can pray, while they’re in class. You can teach them how to pray prayers of protection to keep themselves safe. You can teach them positive affirmations and help them cultivate a positive mindset. They will be a source of light and positive energy to children around them.
Just think, if every parent who’s reading this article will teach their children how to pray, then prayer will be back into schools. It won’t be a mandatory thing that the school determines and dictates, but it is simply what each individual has a right to do. Think how much safer the school will be, because there are individuals inside the school praying every day. Every day and pretty much all day the school is protected by the prayers that started at home then filled the school because the kids start praying before tests, for their friends, and for themselves.
Tip 6 – Teach Them the Stay Low, Don’t Be a Hero Method
If anything happens at the school, your child needs to know that they should stay low and don’t be a hero. They should basically make themselves invisible, and run away if possible. When they have this in mind, they will likely be safer. Teach them to follow the stay low, don’t be a hero methodology, and you’ll likely see your child safely at home. “Parents should also be aware and familiar with any active shooter training the school provides”, says Tillman. This will help them know the school’s procedure if such an incident occurs.
Tip 7 – Adopt an Arrive Alive Visualization Practice
See you children coming home safe and happy every single day. When you are able to see yourself greeting their child at home and see them safe and happy, you are creating this reality. You’ve just adopted an arrive alive visualization. Know and trust that you and your children will always arrive home safe every single day. I’ve done this regularly through the years with my children and they’ve come home safely every day so far. Release any thoughts of tragedy or pain coming to your children. Speak goodness, peace, and health over their lives daily. Remain in a good mental place and keep a positive mental attitude every moment of the day to see positive things happen for your children.
Next Steps
We’ve discussed budget-proofing, we discussed bully-proofing, and we discuss bullet-proofing your child for the upcoming school year. All of these strategies are within your power as a parent to enforce and complete. I hope that as you go forward through this new school year that you will have both a safe, healthy, and happy school year for you and your children.
Back to School Safety Parental Resources
Spyzie – A mobile phone monitoring and tracking app. Monitor your kids’ phone activity to make sure you know they are safe online. Also, track where they are at all times which is especially important if there is an incident at school. Available for both Android and IOS.
Qustodio – A parental control software to monitor your child’s activity online and on the go. Block numbers, websites, and see who they are talking to on the phone and online. Available for Windows, Android, IOS, and Kindle.
Back to School Budget, Bully, and Bullet-Proofing Checklist – To help you remember these back to school action items I’ve created a checklistyou can download for free with the coupon code: SAFEKIDS.
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Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
